Who Owns the Sky: Our Common Assets and the Future of Capitalism

Global warming has finally made clear the true costs of using our atmosphere as a giant sponge to soak up unwanted by-products of industrial activity. As nations, businesses, and citizens seek workable yet fair solutions for reducing carbon emissions,the question of who should pay-and how-looms large. Yet the surprising truth is that a system for protecting the atmosphere could be devised that would yield cash benefits to us all. In Who Owns the Sky?, visionary entrepreneur Peter Barnes redefines the debate about the costs and benefits of addressing climate change. He proposes a market-based institution called a Sky Trust that would set limits on carbon emissions and pay dividends to all of us, who collectively own the atmosphere as a commons. TheTrust would be funded by requiring polluters to pay for the right to emit carbon dioxide, and managed by a non-governmental agency. Dividends would be paid annually, in much the same way that residents of Alaska today receive cash...